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September to be crucial for tourism revenues

More than 3 billion euros are expected to flow into the Greek economy over the September-October period thanks to an upturn in tourism numbers at the country’s popular destinations. The rise in last-minute bookings observed since July is generating expectations for an improvement in the course of tourism revenues after a negative first half of the year compared with 2015.

What is certain, however, according to the head of the Association of Hellenic Tourism Enterprises, Andreas Andreadis, is that total arrivals of foreign tourists will end the year with an increase from the record season of 2015, when 26.1 million foreign tourists came to Greece, including 2.5 million cruise passengers.

In terms of revenues, Andreadis noted that if July and August cover the shortfall from the year’s first half, then receipts will post an increase from last year’s record of 14.12 billion euros by the end of the year. Those data will be released by the Bank of Greece within the next six weeks, with the positive scenario providing for revenues at or around 6.5 billion euros in July and August.

It is also important that September revenues post an increase from 2015, as though it is not widely know, September is considered more important than June: In June 2015 revenues came to 1.96 billion euros, while this year they dropped to 1.85 percent.

In anticipation of this month’s results, September 2015 has set the bar high at 2.13 billion. Still, the rise in last-minute bookings point to a favorable figure, while tour operators also speak of a very good pace in October bookings.